The Calendar . The Universe
Six calendar years. Two of them paid double digits negative. The CAGR averaged it all out.
A 5-year CAGR is one number that hides six different years of holding. The Energy Basket calendar is what 100 percent thematic exposure actually delivers, year by year.
2021
+55.4%
apr to dec only
2022
+18.0%
choppy . crude shock
2023
+108.9%
best year on record
2024
+16.1%
capex cycle cooling
2025
-14.6%
worst year on file
2026
+20.3%
ytd to apr only
Live universe . 10 names from CNX Energy
Equal weight . post 27 Apr 2026 rebalance
ADANIPOWER
ADANIGREEN
ADANIENSOL
THERMAX
GVT&D
ABB
JPPOWER
BHEL
RPOWER
SUZLON
Adani group . 30 percent of portfolio
100%
One sector. One thematic story. Ten names. The 1W rebalance rotates within the universe to ride momentum. It does not diversify out of the universe . that is by design.
Power gen 6 of 10 . Power T and D plus capital goods 4 of 10 . Adani group 3 of 10